Meet Rakesh Jhunjhunwala’s ‘Guru’ Radhakishan Damani, the man with a Midas touch in the stock market: Know about his journey, net worth and more

Radhakishan Damani is the master of retail and investing, the man who is known for his Midas touch in the stock market and for transforming India’s retail industry. With an unassuming demeanor and a sharp business acumen, Damani has risen to become one of India’s most successful and respected entrepreneurs. 

From humble beginnings to a net worth of billions, his journey is nothing short of inspirational. Here, we take a look at his journey, education, net worth and more.

Radhakishan Damani: Journey

Damani is a billionaire businessman, investor, and the founder of the hypermarket chain, D-Mart. He was born on 18th March 1954 in Bikaner, Rajasthan, India. In 2002, Damani started his first D-Mart store in Mumbai, which became an instant success. Today, D-Mart has over 234 stores in 11 Indian states, making it one of the largest hypermarket chains in the country.

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Radhakishan Damani: Education

Damani enrolled for his graduation in commerce from the University of Mumbai but dropped out after just one year. He also worked as a stockbroker in the early 1980s and has extensive knowledge of the stock market.

His humble beginnings were in a small ball-bearing business. However, after his father’s demise, he transitioned to become a stockbroker and joined his family business, at the age of 32.

Radhakishan Damani: Stock market acumen

Late investor and billionaire, Rakesh Jhunjhunwala, who was touted as the Warren Buffet of India considered Damani as his ‘Guru’. Apart from D-Mart, Damani also owns a stake in several companies including VST Industries, United Breweries, and India Cements.

Damani’s primary source of income is his stake in D-Mart, which is listed on the Bombay Stock Exchange (BSE).

Radhakishan Damani: Net Worth

As of April 2023, Damani’s net worth is estimated to be around $15.6 billion, making him the eighth-richest person in India, and the 113th richest person in the world, according to Forbes.

Radhakishan Damani: Luxuries Owned

He owns several luxurious properties including a lavish bungalow in South Mumbai, which is estimated to be worth around Rs 1,000 crore. 

According to a Money Control report, one of the biggest property deals of 2023 was made by Damani and his family members and associates. The group purchased 28 apartments worth Rs 1,238 crore in a plush residential property located in South Mumbai. He is also known to own several high-end cars.